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Arrow Enterprises uses a standard costing system. The standard cost sheet for product no. 549 follows. Direct materials: 4 units @ $6.50 $26.00 Direct labor: 8 hours @ $8.50 68 Variable factory overhead: 8 hours @ $7.00 56 Fixed factory overhead: 8 hours @ 2.5 20 Total standard cost per unit $170.00 The following information pertains to activity for December:
1. Direct materials acquired during the month amounted to 26,350 units at $6.40 per unit. All materials were consumed in operations.
2. Arrow incurred an average wage rate of $8.75 for 51,400 hours of activity.
3. Total overhead incurred amounted to $508,400. Budgeted fixed overhead totals $1.8 million and is spread evenly throughout the year.
Collins Landscape Company purchased various landscaping supplies on account to be used for landscape designs for their customers. How will this business transaction affect the accounting equation?
One defect of the IRR method is that it assumes that the cash flows to be received from a project can be reinvested at the IRR itself, and that assumption is often not valid. Why do you think this is a correct statement?
On December 31, 2007, BradstormCompany had 1,500,000 shares of $10 par common stock issued and outstanding. Write out the journal entries for these transaction.
How are the analytical procedures used in an audit engagement? What premise underlies the use of analytical procedures in auditing? What sources of information can an auditor use to develop expectations? Please provide examples.
Jake Smith opened his Balinese coffee shop business in downtown Boise on January 1st 2010. On December 31st, 2010, he sat down with his accountant to figure out how his business had done in its first year and heaved a sigh of relief when his accou..
Prepare the entry to record the interest expense at April 1, 2011. Assume that interest payable was credited when the bonds were issued. (round to nearest $)
What is the budgeted variable overhead cost rate per output unit? What is the flexible-budget amount for variable manufacturing overhead? What is the flexible-budget variance for variable manufacturing overhead?
Determine the top five mergers and acquisitions (M&A) for the current year up to the date of this assignment. Provide a list including the name of the acquirer, the target, the value of the deal, and the type of reorganization involved.
Prepare journal entries for the following selected transactions related to this company's stock during the current year:
When the analysis is a based on an entire group or in other words all of the members of the group under study then the population is in place. A sample is taken when this population is too large to measure each one of the members.
How common are dividend distributions in today's economic climate, particularly since the economic downturn of 2008 and 2009? Please comment on whether dividend distributions are concentrated in the companies that are publicly traded or whether cl..
When both borrowed an owned funds are mingled int he same account for purposes of categorizing interest expense a repayment of the debt is allocated first to?
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